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The Guyana-Suriname basin is one of the world’s most attractive basins with a breakeven below $40 per barrel for the Guyanese fields. In 2015, ExxonMobil discovered one of the largest oil and gas reserves in decades in Guyana and achieved first oil at its landmark Liza offshore project last December. Exxon recently doubled its estimate for commercially viable offshore oil reserves to more than 18 billion barrels. As a nascent oil producing nation, there are numerous opportunities in the oil and gas sector in addition to developing infrastructure to support the growing oil and gas industry. Investor confidence in other sectors remains high with eight new hotels signing contracts to begin construction in 2021 and the government undertaking significant investments to improve Guyana’s roads, bridges and power plants.
Guyana had the fastest growing economy in 2020 with real GDP growth of 43.5 %. Guyana is now poised to be the fastest growing economy in the region in 2021 with a projected growth rate of 20.9%. The country’s macroeconomic framework remains strong with a low inflation rate and a stable currency. The U.S became Guyana’s largest trading partner in 2019 and culturally our two countries are closely linked.
Guyana has a business friendly political climate that is undertaking significant regulatory reforms. The country’s technological bottlenecks require solutions and strong trade and investment support programs make Guyana an attractive market for U.S. suppliers.
- Guyana continues to be a growth market for experienced U.S exporters and SMEs. The aggressive response by the Guyanese government to create incentives for investment presents exciting opportunities for U.S. firms as the country undergoes its economic transformation.
- Learn about the emerging oil and gas developments in the fastest growing economy in the Western Hemisphere.
- Insights into exporting to Guyana, opportunities in the oil and gas sector, and successful business models.
Join Ambassador Sarah-Ann Lynch and Guyana's Vice President, Hon. Dr. Bharrat Jagdeo as well as industry experts to learn about Guyana's economic outlook, opportunities in the oil and gas sector, reasons to consider doing business in Guyana, and U.S. Government resources available to support your company in the market.
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